Trimble Sells Yamei Consumer Smart Key Business to CIH Technology Holdings' Singapore Subsidiary Astrata

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Oct 29, 2014, 06:30 ET

SUNNYVALE, Calif., Oct. 29, 2014 /PRNewswire/ -- Trimble (NASDAQ: TRMB) announced today that it has sold the Yamei consumer smart key business to CIH Technology Holdings' subsidiary, Singapore-based Astrata Group Pte. Ltd. Astrata intends to foster and grow the acquired company as part of its global business. Yamei is a Trimble subsidiary in Beijing, China, and one of China's leading suppliers of after-market smart keys for passenger automobiles. As part of the transaction, Yamei's commercial telematics solutions group has been transferred into Trimble China. Financial terms of the sale were not disclosed.

"This is a significant step in the further development of Trimble's business in China," said James Veneziano, vice president of Trimble's Mobile Solutions Segment. "The divestiture of the consumer smart key business allows Trimble to focus on Yamei's commercial telematics solutions for emerging markets, which includes wireless vehicle control, GPS monitoring and tracking as well as on-board diagnostics."

George M. Kappaz, chairman of Astrata said, "Yamei's top-end smart key business is highly complementary to our core location based IT solutions. We consider the Yamei business a compelling addition to our global product offering and a significant component of our China strategy."

The consumer smart key part of Yamei's business represented a small portion of Trimble's Mobile Solutions Segment. The divestiture will not have a material impact on Trimble's financial results.

About Astrata

Astrata Group Pte. Ltd. (www.astratagroup.com and www.astrata.eu) is a Singapore-based global leader in Advanced Location Based IT Solutions. With a reputation for sophisticated, high-end deployments, Astrata serves enterprises and governments for the provision of their mission critical fleet management, safety and security systems. Astrata's solutions are based around a full range of proprietary hardware along with its best-in-class GLS ™ and Fleetvisor software. Astrata's turnkey solutions combine GPS positioning, wireless communications (satellite and terrestrial) and sophisticated information technology into powerful tools that help governments and enterprises operate more securely, safely and efficiently. The company has operations throughout the world, and is owned by an affiliate of Washington D.C. based CIH International Group, a St. Paul International Ltd. and Traditions L.P. Company. CIH International has a well-established track record in the ownership and operation of global companies in the telecommunications, IT, energy and manufacturing sectors.

About Trimble

Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location—including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978, Trimble is headquartered in Sunnyvale, Calif.

For more information, visit: www.trimble.com.

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SOURCE Trimble